Comment / WiseTech top brass put on brave face after stock gets hammered

ID 16332510 © Pavel Losevsky | Dreamstime.com

Australia’s WiseTech Global (WTC) released today strong fiscal 2023 annual results, beautifully meeting its targets for the 12 months to the end of June.

Yet the stock was hammered, down to A$69.6, -19.6% for the day.

Ouch!

About half of that fall was due to high-end Ebitda guidance for fiscal 2024 that was softer than Mr Market had expected, at around A$540m.

Go with the low end of the forward guidance, and virtually all the drop was due to that. Classic, in this market.

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